Dow Jumps 501 Points as 3M, Northrop Earnings Offset AI Stock Pressure
Updated
Updated · CNBC · Oct 19
Dow Jumps 501 Points as 3M, Northrop Earnings Offset AI Stock Pressure
3 articles · Updated · CNBC · Oct 19
Summary
The Dow rose 501 points, or 1%, while the S&P 500 gained 0.4% and the Nasdaq added 0.2%, extending a rebound despite earlier weakness in AI-linked shares.
3M climbed more than 5% after beating earnings and raising full-year guidance, and Northrop Grumman advanced 6% on an earnings beat, giving the blue-chip index its biggest lift.
Oil prices eased and Treasury yields fell, improving risk appetite as traders watched the Middle East; WTI slipped to about $103 a barrel and Brent to roughly $107.
AI sentiment remained fragile after Korean firm Elice plunged more than 30% in its market debut, though chip and infrastructure names including Micron, Intel, AMD and CoreWeave recovered later in the session.
The move followed Monday's broader rebound from last week's AI-driven selloff, when concerns about debt-funded buildouts had spilled beyond tech into the wider market.